Deal Review
Paramus Dr Paramus, NJ, 07652
Paramus is a prime corner lot situated in one of the most desirable areas of New Jersey, Paramus. The property had significant equity remaining, which enabled the owner to refinance and fully repay the loan. The deal was completed within a swift turnaround of five months, resulting in a substantial rate of return.
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$580,000
Note Purchase Price
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$780,000
Assumed Debt
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30%
ROI
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119.7%
IRR
Property Photos
Renovation
Paramus is a 6,000-square-foot property shell with a pool, situated on a 0.5-acre corner lot. After three contractor visits and assessments, it has been determined that the property requires $600,000 to $800,000 in renovations to achieve its full potential. Once renovated, the property's estimated value ranges between $2.2 million and $2.4 million.
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